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Median Home Sale Price in Las Vegas Increases in June; Inventory Also Increases

Las Vegas Real Estate

Median Home Sale Price in Las Vegas Increases in June; Inventory Also Increases

LAS VEGAS, NV – According to a new report released by a Sothern Nevada real estate industry group, the prices of homes in Las Vegas continued to increase during the month of June, while the inventory of residences being put on the market also showed growth.

Las Vegas Realtors noted that the median sale price for an existing single-family home in the Las Vegas Valley was $475,000 in June, which was a $2,000 jump from May, when that price was $473,000. It also represented a year-over-year increase of 7.7 percent over June 2023’s price of $440,990.

And when it came to condominiums and townhomes, in June the median price for these types of residences was $295,000, the same price that it was in May and a 7.3 percent increase year-over-year.

At the end of June, there were 4,114 single-family homes listed for sale without any offers, a small bump from May’s 3,869 home availability but a jump of 11.8 percent from the same period of time one year prior. In addition, there were 1,367 condos and townhomes on the market without offers at the end of June, an increase from May’s availability of 1,324 and a whopping 47 percent increase from June 2023.

Las Vegas Realtors President Merri Perry noted that the cost of housing in Las Vegas continues to rise despite the fact that home mortgage interest rates remain at historically high levels.

Fortunately, our local housing market has been outperforming most of the country in a few key ways,” said Perry. “For example, home sales have been down nationally and approaching some of the lowest levels on record. Here in Southern Nevada, we’ve been selling more homes this year than we did last year. And unlike much of the nation, homes here have actually been selling faster than they were at the same time last year. At the same time, we’re seeing more homes available for sale, which is good news.”

In June, the combined total of homes, condos and townhomes sold was 2,698.

Shelter Realty is a Real Estate and Property Management Company specializing in the areas of HendersonLas Vegas and North Las Vegas, NV. Feel free to give us a call at 702.376.7379 so we can answer any questions you may have.

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